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>> michelle, thank you very much, again. that's nbc's michelle kosinski joining us. joining us right now is robert johnson. he's the founder and chairman as well as the cnbc contributor. and robert, you knew nelson mandela. how many times had you met with him? >> yeah, i had the pleasure to meet with president mandela probably five or six times over the course of being in africa. we raise multimillions of dollars through a telethon for president mandela. and he was certainly, obviously, a giant of a man in the fact he did two things that most people never do. one, you forgive your captives in a way that brings about reconciliation. and the second thing he did from an economic standpoint, he understood you simply couldn't confiscate all the white africans' assets and turn it over to blacks which many people thought he should do, including people in south africa. but he recognized that south africa was both going to be a democracy and a free market economy. and that's the unique nature of his leadership. it was not just being a revolutionary, it was also being a leader
>> michelle, thank you very much, again. that's nbc's michelle kosinski joining us. joining us right now is robert johnson. he's the founder and chairman as well as the cnbc contributor. and robert, you knew nelson mandela. how many times had you met with him? >> yeah, i had the pleasure to meet with president mandela probably five or six times over the course of being in africa. we raise multimillions of dollars through a telethon for president mandela. and he was certainly,...
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so bond yields 3.25, 3.30. >> michelle, this u-6 number is an improvement. what do you make of that and what do you make of the confidence number. we just got? >> i have to be honest. the household survey data are awful suspicious at the moment just given the volatility associated with the government shutdown. i do think the message is similar to what we've seen. you're getting continual declines in the unemployment rate. anyway, you're absolutely right. we've recouped all the losses because of the government shutdown. that's great news in the middle of the holiday shopping season. >> andrew, you're not a stocks guy, you're an economist. let me ask you, jim imof can. probably wouldn'tinfchbl u.s. consumer and small cap consumers have been very well. >> do you find thome eat the moment? >> specific areas would be technical calling. >> would you be bringing some of can can can we're here talking about the fed is going to do it. ecb is probably uneased longer than the fed at this point. >> guys, we'll leave it there. thapg you very much. hp f. -- let bring in s
so bond yields 3.25, 3.30. >> michelle, this u-6 number is an improvement. what do you make of that and what do you make of the confidence number. we just got? >> i have to be honest. the household survey data are awful suspicious at the moment just given the volatility associated with the government shutdown. i do think the message is similar to what we've seen. you're getting continual declines in the unemployment rate. anyway, you're absolutely right. we've recouped all the...
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i remember when i asked him if he was going to mary grafa michelle about 15 years ago. he said the problem is these young women, they won't marry an old man like me. despite the fact that thee days later he announced getting married again. people are singing, celebrating, it's a very, very joyous celebration of the great man. >> he led a very full life and three wives in the course of that time, as well. let's get out to steven england now who is the global head of strategy at ct. steven, i wanted to ask you about how the south african currency has been sharing. but this year we have seen a suitable decline in the order of 20 plus percent. do you think the passing of mandela does much to the way investors view the south african trade? >> he hasn't been much involved in political life for many years now. it's hard to see how we are going to have an impact on policy. at times when countries are facing difficulties, such an event leads them to focus more and cooperate more. but we'll have to see. i don't think the markets will react one way or another. >> commodities have
i remember when i asked him if he was going to mary grafa michelle about 15 years ago. he said the problem is these young women, they won't marry an old man like me. despite the fact that thee days later he announced getting married again. people are singing, celebrating, it's a very, very joyous celebration of the great man. >> he led a very full life and three wives in the course of that time, as well. let's get out to steven england now who is the global head of strategy at ct. steven,...
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. >> you look at the market, what jumps out at you, michele? >> every single cycle there's a moment where the market turns. where good news starts out bad news because you worry about the fed, right, et cetera. the fed will get easier whether it's taper or raising rates. and then good news becomes good point. feels like we hit that point. the underlying economy is what drives the stock market. >> are we having a moment here, evan? >> there is a moment. it's not just between the two of us. i think the big story is, we are looking -- i'm going to call it the official end of the 31-year run of a bull market in bonds. >> wait a minute. >> i heard that before. >> you just said 31. >> i think it's 31. i think it's 31. >> people have been saying 30. they've been wrong. >> i think it's 31. i think it's important because what's going to happen in the next few months, it seems very unlikely, given the employment report and what's going on with some of the numbers, gdp numbers, that the ten-year yield will ever move down below 2.50 again. >> to what, snow
. >> you look at the market, what jumps out at you, michele? >> every single cycle there's a moment where the market turns. where good news starts out bad news because you worry about the fed, right, et cetera. the fed will get easier whether it's taper or raising rates. and then good news becomes good point. feels like we hit that point. the underlying economy is what drives the stock market. >> are we having a moment here, evan? >> there is a moment. it's not just...